Plotted by close date where disclosed, otherwise announcement. Select any marker to jump to the deal entry.
Three patterns run through SPX's acquisitions — what it looks for, how it pays, and how it folds in what it buys.
18 acquisitions — each with the deal value, financing structure, target revenue, and executive commentary where disclosed.
Crawford United specializes in highly engineered air handling and industrial products. SPX is integrating Crawford's Commercial Air Handling Equipment businesses into its HVAC segment; Crawford's Industrial & Transportation Products businesses (serving aerospace and other markets) are also part of the acquired group. approximately $300.0 million (net cash consideration).
SPX Technologies announced in January 2026 the acquisition of Thermolec for total cash consideration of about CAD $195 million (roughly US $140 million). A Montreal-based maker of custom electric duct heating and related products for commercial, multi-family residential and light-industrial use, Thermolec has close to 200 employees and around US $35 million in annual revenue. It joins SPX's HVAC segment alongside the Marley Engineered Products and ASPEQ electric-heat brands. approximately $141.5 million (net cash consideration).
Sigma & Omega specialize in highly engineered hydronic heating and cooling equipment, including vertical stack heat pumps and fan coils, institutional heating products, and both air-cooled and water-cooled commercial self-contained units. $143.3 million (net of working-capital adjustment of $0.3M and cash acquired of $0.2M).
CEO, FY2025: “Total company revenues increased 10% year over year, primarily driven by the acquisition of KTS and Sigma Omega as well as higher project sales in detection and measurement.” On integration: “it's been about half a year with Kranze and maybe a quarter or so with Sigma & Omega … very good.”
SPX Technologies completed its acquisition of Kranze Technology Solutions in January 2025, having announced the agreement the prior December. Headquartered in Des Plaines, Illinois, KTS specializes in digital interoperability and tactical networking that integrates and distributes real-time information across communications platforms to improve situational awareness. The business became part of SPX's Communication Technologies platform within its Detection & Measurement segment. $340.0 million net cash consideration (inclusive of $46.5M tied to future service obligations of certain existing employees; net of a $2.4M working-capital adjustment).
CEO, FY2025: “Year over year, adjusted EPS grew 16% to $1.65 for the quarter. Total company revenues increased 10% year over year, primarily driven by the acquisition of KTS and Sigma Omega.”
Ingénia specializes in the design and manufacture of custom air handling units that demand high levels of precision and reliability in healthcare, pharmaceutical, education, food processing and industrial end markets. $292.0 million (net of $2.1M working-capital adjustment and $1.5M cash acquired).
CEO, 2025 call: “We expect to announce site locations for the U.S. production expansion of our TAMCO actuated dampers and Ingénia custom air handling units … incremental production capacity anticipated to come online in the first half of 2026.”
ASPEQ Heating Group is a leading provider of electrical heating solutions to customers in industrial and commercial markets. SPX acquired ASPEQ from Industrial Growth Partners V, L.P. via an Agreement and Plan of Merger. approximately $418 million in cash at announcement; $421.5 million at close (net of $0.3M working-capital adjustment and $0.9M cash acquired).
CEO: “ASPEQ is a great addition. In particular, their duct heating. They have the original patents on duct heating and a very strong market position there. We see a very nice combination there.”
TAMCO is a market leader in motorized and non-motorized dampers that control airflow in large-scale specialty applications in commercial, industrial, and institutional markets. $125.5 million (inclusive of a $0.2M working-capital adjustment; net of $1.0M cash acquired).
CEO: “We really like this … engineered air movement. You talk about Ingénia, you talk about TAMCO, you talk about Strobic and Cincinnati Fan. We see a lot of runway here.”
ITL is a leader in the design and manufacture of highly-engineered Aids to Navigation systems, including obstruction lighting for telecommunications towers, wind turbines and numerous other terrestrial obstructions. $40.4 million (net of $1.1M cash acquired).
CEO: “With the acquisitions of Sealite, Sabik, and ITL, we do believe we are the very strong global leader here, approximately $170 million.”
SPX completed its acquisition of Cincinnati Fan & Ventilator in December 2021 after agreeing to buy the company from Dominus Capital the prior month. Cincinnati Fan is a specialist in engineered air movement, producing blowers and critical exhaust systems. The purchase strengthened SPX's HVAC platform with additional engineered air-quality capabilities. $145.2 million (net of $2.5M cash acquired; later $0.4M working-capital receipt).
CEO: “engineered air movement … you talk about Strobic and Cincinnati Fan. We see a lot of runway here and … very attractive opportunities to continue to build and strengthen that business.”
ECS is a leader in the design and manufacture of highly-engineered tactical datalinks and radio frequency (RF) countermeasures, including counter-drone and counter-IED RF jammers. $39.4 million (net of $5.1M cash acquired); seller eligible for up to $15.0M earn-out.
CEO: “Our CommTech business manages RF signals.” (Detection & Measurement franchise commentary)
Sealite is a leader in the design and manufacture of marine and aviation Aids to Navigation products. The acquisition included Sealite USA, LLC (d/b/a Avlite Systems) and Star2M Pty Ltd. $80.3 million (net of $2.3M cash acquired).
CEO: “With the acquisitions of Sealite, Sabik, and ITL, we do believe we are the very strong global leader here, approximately $170 million. And we've diversified geographically as well as end markets.”
Sensors & Software is a leading manufacturer and distributor of ground penetrating radar products used for locating underground utilities, detecting unexploded ordnance, and geotechnical and geological investigations. $15.5 million (net of $0.3M cash acquired); up to $3.7M contingent consideration.
CEO: “We see a lot of growth opportunities in location inspection as well.” (Detection & Measurement franchise)
ULC Robotics is a leading developer of robotic systems, machine learning applications, and inspection technology for the energy, utility, and industrial markets. $89.2 million (net of $4.0M cash acquired); seller eligible for up to $45.0M earn-out.
CEO: “If you think about robotics that goes underground, managing your water, wastewater, or your gas lines, we believe we're the leader in North America with our Cues Robotics brand.”
In November 2019 SPX's subsidiary The Marley Company acquired Patterson-Kelley from Harsco Corporation for cash consideration of about $60 million. Based in East Stroudsburg, Pennsylvania, Patterson-Kelley manufactures and distributes commercial boilers and water heaters. Its results are reported within the Heating platform of SPX's HVAC segment, reinforcing SPX's push into high-efficiency commercial boilers.
SPX purchased SGS Refrigeration of Dixon, Illinois in July 2019. Founded in 2010, SGS makes industrial evaporators and evaporative condensers and had partnered with SPX since 2015 to build the Cube line of evaporative condensers. With 2018 revenue of about $15 million, the business reports within the HVAC Cooling unit of SPX's HVAC segment. $10.0 million plus a deferred payment not to exceed $1.5 million.
SPX completed the acquisition of the Sabik marine and obstruction lighting business of Carmanah Technologies in February 2019 for $77 million, net of cash acquired. Sabik supplies aids-to-navigation and specialty lighting solutions, expanding SPX's position in that niche. The business is reported within the Communication Technologies operations of SPX's Detection & Measurement segment. $77.2 million (net of $0.6M cash acquired).
CEO: “With the acquisitions of Sealite, Sabik, and ITL, we do believe we are the very strong global leader here, approximately $170 million.”
Cues is a manufacturer of pipeline inspection and rehabilitation equipment. The acquisition was completed through the purchase of all of the issued and outstanding shares of Cues' parent company. $164.4 million (net of $20.6M cash acquired).
CEO: “we believe we're the leader in North America with our Cues Robotics brand. Some very good innovation there.”
Schonstedt is a manufacturer and distributor of magnetic locator products used for locating underground utilities and other buried objects. $16.4 million (net of $0.3M cash acquired).